Can I retire at age 59 with 896,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $896,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$73,991$73,332$72,689$72,061$71,448$70,673
2 years$36,629$35,947$35,286$34,645$34,023$33,242
3 years$24,177$23,492$22,832$22,197$21,586$20,824
4 years$17,952$17,269$16,616$15,992$15,395$14,658
5 years$14,218$13,539$12,895$12,283$11,703$10,993
6 years$11,729$11,056$10,421$9,823$9,260$8,578
7 years$9,953$9,285$8,660$8,076$7,531$6,877
8 years$8,621$7,959$7,344$6,775$6,248$5,621
9 years$7,585$6,929$6,326$5,771$5,261$4,663
10 years$6,757$6,108$5,515$4,974$4,483$3,912
11 years$6,080$5,437$4,855$4,329$3,856$3,311
12 years$5,517$4,880$4,309$3,797$3,341$2,823
13 years$5,040$4,410$3,850$3,352$2,914$2,422
14 years$4,632$4,009$3,459$2,976$2,554$2,087
15 years$4,279$3,662$3,123$2,654$2,249$1,806
16 years$3,970$3,360$2,831$2,376$1,987$1,568
17 years$3,697$3,094$2,576$2,135$1,762$1,366
18 years$3,456$2,859$2,352$1,924$1,567$1,193
19 years$3,239$2,650$2,153$1,739$1,397$1,044
20 years$3,045$2,463$1,976$1,575$1,247$915
21 years$2,870$2,294$1,818$1,429$1,116$803
22 years$2,710$2,141$1,675$1,299$1,001$706
23 years$2,565$2,003$1,547$1,183$898$622
24 years$2,432$1,876$1,430$1,079$807$548
25 years$2,310$1,761$1,325$986$726$483
26 years$2,197$1,655$1,229$901$654$427
27 years$2,093$1,557$1,141$825$590$377
28 years$1,997$1,468$1,061$756$532$333
29 years$1,907$1,384$987$693$481$295
30 years$1,824$1,308$919$636$434$261
31 years$1,746$1,236$857$584$393$231
32 years$1,673$1,170$800$537$355$204
33 years$1,605$1,108$747$494$321$181
34 years$1,540$1,050$698$454$291$160
35 years$1,480$996$652$418$264$142
36 years$1,423$945$610$385$239$126
37 years$1,369$898$571$355$216$112
38 years$1,319$853$535$327$196$99
39 years$1,271$811$501$302$178$88
40 years$1,225$772$470$278$161$78
41 years$1,182$735$440$257$146$69
42 years$1,141$700$413$237$133$61
43 years$1,102$667$388$219$121$54
44 years$1,065$635$364$202$109$48
45 years$1,029$606$342$186$99$43
46 years$995$578$321$172$90$38
47 years$963$552$301$159$82$34
48 years$932$527$283$147$74$30
49 years$903$503$266$136$68$27
50 years$875$480$250$126$61$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $896,000, adding $5,493 every year, while hoping to spend $20,947 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 51/41/8 Blend
58$896,000$896,000$896,000$896,000
59$993,058$945,570$931,682$1,041,406
60$1,072,063$969,616$940,606$1,098,979
61$1,158,423$994,137$949,127$1,158,819
62$1,252,869$1,019,136$957,209$1,223,373
63$1,356,201$1,044,613$964,815$1,293,090
64$1,469,302$1,070,568$971,905$1,368,462
65$1,593,145$1,097,000$978,438$1,450,032
66$1,728,800$1,123,907$984,370$1,538,397
67$1,877,446$1,151,287$989,655$1,634,215
68$2,040,382$1,179,137$994,244$1,738,211
69$2,219,038$1,207,451$998,088$1,851,182
70$2,414,988$1,236,225$1,001,132$1,974,006
71$2,629,968$1,265,451$1,003,322$2,107,651
72$2,865,888$1,295,121$1,004,596$2,253,184
73$3,124,854$1,325,227$1,004,895$2,411,777
74$3,409,183$1,355,758$1,004,154$2,584,724
75$3,721,431$1,386,701$1,002,304$2,773,449
76$4,064,409$1,418,042$999,273$2,979,523
77$4,441,219$1,449,765$994,989$3,204,673
78$4,855,273$1,481,854$989,371$3,450,805
79$5,310,334$1,514,288$982,338$3,720,019
80$5,810,546$1,547,046$973,804$4,014,625
81$6,360,474$1,580,103$963,678$4,337,174
82$6,965,147$1,613,434$951,867$4,690,472
83$7,630,109$1,647,008$938,271$5,077,614
84$8,361,464$1,680,796$922,787$5,502,008
85$9,165,940$1,714,761$905,307$5,967,413
86$10,050,947$1,748,866$885,716$6,477,967
87$11,024,653$1,783,069$863,897$7,038,234
88$12,096,055$1,817,327$839,725$7,653,240
89$13,275,066$1,851,590$813,070$8,328,525
90$14,572,612$1,885,807$783,796$9,070,197
91$16,000,726$1,919,919$751,761$9,884,982
92$17,572,673$1,953,868$716,818$10,780,296
93$19,303,063$1,987,585$678,809$11,764,311
94$21,208,000$2,021,001$637,574$12,846,032
95$23,305,226$2,054,040$592,942$14,035,385
96$25,614,289$2,086,618$544,736$15,343,306
97$28,156,733$2,118,649$492,771$16,781,850
98$30,956,294$2,150,037$436,853$18,364,302
99$34,039,129$2,180,682$376,781$20,105,300
100$37,434,060$2,210,475$312,343$22,020,982